To prohibit licenses or other authorization for United States persons to engage in activities relating to deepwater, Arctic offshore, or shale projects that have the potential to produce oil in the Russian Federation, or in maritime area claimed by the Russian Federation, and for other purposes.
No Russia Exemptions for Oil Production Act or the No REX Act
This bill prohibits the Department of the Treasury from providing licenses or other authorization for U.S. persons to engage in activities relating to deepwater, Arctic offshore, or shale projects that may produce oil in Russia or within its maritime jurisdiction. Executive Order 13662 (relating to blocking property of additional persons contributing to the situation in Ukraine) authorized Treasury to prevent U.S. persons from engaging in business with Russia in various sectors, including the energy sector.
Additionally, the bill nullifies any license or other authorization to engage in prohibited activities issued before the enactment of this bill.
Referred to the Committee on Foreign Affairs, and in addition to the Committees on Intelligence (Permanent Select), the Judiciary, Armed Services, House Administration, Energy and Commerce, Appropriations, Financial Services, and Oversight and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Introduced in House
Introduced in House
Referred to the House Committee on Foreign Affairs.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line